EAST BRIDGEWATER, Mass., Sept. 5, 2013 (GLOBE NEWSWIRE) -- SolarCity (Nasdaq:SCTY) is providing solar electricity directly to the town of East Bridgewater in a move that will significantly cut energy costs for the town. SolarCity has provided the town with more than 10,000 solar panels, and the town pays SolarCity for the electricity the panels produce at a discount to its local utility rates. At 2.45 megawatts of generation capacity, East Bridgewater's project is among the largest solar installations in Massachusetts. The solar panels are expected to produce more than 3 million kilowatt hours of electricity each year—enough power to supply about 350 homes. The town is expected to save as much as $2 million on energy costs over 25 years.
"Massachusetts has benefited from a major increase in solar energy thanks to projects like this one that protect our environment and create jobs," said Governor Deval Patrick. "My thanks go out to the East Bridgewater community for their leadership in adopting these new technologies and investing in a clean energy future that will benefit generations to come."
Electricity generated by the solar field will be sent to National Grid, and result in net metering credits, which will be used to reduce the town's electricity bills. Over the 25-year lifetime of the contract, it is estimated to save the town up to $2 million in energy costs. SolarCity, with Massachusetts operations based in Marlborough, makes it possible for homeowners, businesses, nonprofits and municipalities to have their solar installed for free and pay less for solar electricity than they pay for utility bills."The residents of East Bridgewater will be enjoying the benefits of this agreement for decades to come," said Brian Connors, Chair of the East Bridgewater Board of Selectmen. "We're extremely happy to be helping East Bridgewater cut their energy costs with clean, affordable solar power," said Lee Keshishian, SolarCity's East Coast Regional Vice President. "By saving money, creating jobs and reducing pollution—solar power is win-win-win for East Bridgewater and Massachusetts."